The Real Estate Addendum Form is a crucial document in Canadian real estate transactions when modifications to an existing agreement become necessary. This form is typically used when circumstances change after the initial agreement is signed but before closing, requiring formal documentation of modifications. Common scenarios include price adjustments, closing date changes, or updates to property conditions discovered during inspections. The document must comply with provincial real estate laws and the federal legal framework governing property transactions in Canada. The Real Estate Addendum Form serves as a legal bridge between the original agreement and new terms, ensuring all modifications are properly documented and enforceable. It requires careful drafting to maintain consistency with the original agreement while clearly articulating the specific changes being made.
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1. Identification of Original Agreement: Details of the original purchase agreement including date, parties, and property address
2. Parties: Full legal names and addresses of all parties involved in the original agreement
3. Background: Brief context explaining why the addendum is necessary and its relationship to the original agreement
4. Definitions: Key terms used in the addendum, especially new terms not defined in the original agreement
5. Modifications: Specific changes, additions, or deletions to the original agreement, clearly referenced by section number
6. Confirmation of Original Terms: Statement confirming all other terms of the original agreement remain in full force and effect
7. Effective Date: When the modifications take effect
8. Execution: Signature blocks for all parties, witnesses, and date of signing
1. Additional Consideration: Used when the addendum involves changes to the purchase price or other financial terms
2. Time Extensions: Used when modifying any deadline or timing requirement in the original agreement
3. Conditional Changes: Used when the modifications are subject to certain conditions being met
4. Property Modifications: Used when changing details about the property or included/excluded items
5. Financing Modifications: Used when altering financing terms or conditions
6. Inspection Modifications: Used when modifying inspection terms, timelines, or requirements
7. Closing Date Modifications: Used when changing the closing date or related terms
8. Insurance Requirements: Used when modifying insurance requirements or terms
1. Schedule A - Modified Terms: Detailed listing of specific terms being modified from the original agreement
2. Schedule B - Property Modifications: Details of any changes to property specifications or included items
3. Schedule C - Financial Adjustments: Details of any changes to financial terms, including purchase price adjustments
4. Appendix 1 - Supporting Documentation: Any relevant supporting documents referenced in the addendum
5. Appendix 2 - Property Plans: Updated property plans or specifications if modifications affect physical property
6. Appendix 3 - Inspection Reports: Relevant inspection reports if modifications are based on inspection findings
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